IMC Exploration Group Plc - Strategic Review Completed; Issue of Equity

IMC Exploration Group plc (‘IMC’ or the ‘Company’)

Completion of Strategic Review; Issue of Equity

Over the past several of months, the Board of IMC has been engaged in a strategic review of all its projects. The Board has decided that the Company will focus on its flagship project in Avoca Co. Wicklow, IMC’s highly prospective north Wexford gold project and IMC’s zinc project adjacent to the Kilbricken zinc deposit in Tulla, Co. Clare and Shannon, Co. Clare.  The Directors believe the conclusions of this review to be positive and constructive. Concentrating on completion of our works’ programme on our main projects will, in the opinion of your Board, accelerate progress to realising the potential of IMC’s projects to the benefit of all shareholders. To this end, IMC has requested permission from the Exploration and Mining Division (“EMD”) of the Department of Communications, Climate Action and Environment to relinquish its licences numbers PL 3550, PL 3806, PL 3426, PL3677 and PL3670.  

IMC has issued 3,775,000 new ordinary shares at a price of 1p per share in settlement of fees for professional, drilling and third party services. Following this issue, the total number of ordinary shares in issue in IMC is 147, 291,719.

This announcement has been made after due and careful enquiry and the Directors of IMC accept responsibility for its content.

Liam McGrattan, Chairman,
Dublin, 19th February 2018

Enquiries:

IMC Exploration Group PLC
Liam McGrattan
Tel. +353 872745427

Keith Bayley Rogers & Co. Limited
Brinsley Holman
Tel: +44 20 7464 4090;
Graham Atthill-Beck
Tel: +44 20 7464 4091

END